Specifies which VAT calculation type will be used when this sales line is posted.
The program fills in the field automatically by using the VAT Bus. Posting Group and VAT Prod. Posting Group fields.
The VAT calculation type determines how the VAT will be calculated when this line is posted. There are three different VAT types and one type for use with sales tax:
Normal VAT | This option is used to calculate VAT for the amount on this line and to create a VAT ledger entry including the amount. |
Reverse Charge VAT | This option is used when the line involves a sale to another EU country/region, where the seller does not collect VAT because the purchaser must compute and settle accounts with the tax authorities. |
Full VAT | This option is used when the amount you are posting on this line consists entirely of VAT. This option may be useful if, for example, you make a corrective entry in order to correct a VAT calculation error. |
Sales Tax | This option is used only if the program is set up to handle US sales tax. The option directs the program to retrieve information from specific sales tax tables and then calculate sales tax instead of VAT. |
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For more information about how to work with fields and columns, see Work with Data. For more information about how to find specific pages, see Search. |